1362 - Special port development and improvement powers.

§  1362.  Special port development and improvement powers. 1. The port  of Oswego authority shall have power to make rules and  regulations  for  the development, improvement, promotion, preservation and utilization of  the  port  improvement  district  and  project  and  for the payment and  collection of fees, charges, rentals and other receipts  from  the  port  improvement  project  hereinafter  referred  to as "port revenue." Until  such time as the state of New York is fully reimbursed by the  authority  for  the total amount of money advanced by the state to the authority no  rule, regulation, schedule or rate in  relation  to  or  governing  port  revenue  shall  become  effective  or controlling unless approved by the  director of the budget of the state of New York.    2. All port revenue received by the authority shall  be  paid  to  the  state  comptroller as agent of the authority and deposited in a separate  account or accounts to be known as the  "port  of  Oswego  fund.  "  The  moneys  in  such  fund shall be available subject to the approval of the  director of the budget of the state of New York for the payment  of  any  and  all  costs and expenditures incurred in relation to the acquisition  of property, construction, equipment, maintenance, repair and  operation  of  the  port improvement project. The moneys of the port of Oswego fund  when made available shall be paid  from  such  fund  on  the  audit  and  warrant  of  the  state  comptroller  on vouchers approved solely by the  chairman of the authority or his duly designated officer.    3. All moneys in the port of Oswego fund in excess of the sum of three  hundred fifty thousand dollars shall on the first day of each  month  be  paid  by  the authority to the state comptroller provided, however, that  effective March thirty-one, nineteen hundred seventy-eight, the director  of the budget and the authority shall establish within the provisions of  a written agreement between the authority and the director providing for  the repayment to the state  by  the  authority  of  state  advances  the  maximum  amount  of moneys which the authority may retain in the port of  Oswego fund. The comptroller is hereby authorized to  receive  from  the  authority  such  amounts as shall be paid to the comptroller pursuant to  the provisions of this section and to credit all  such  amounts  to  the  capital  construction  fund. Upon certification by the state comptroller  that all moneys due the state have been  paid  in  full,  the  remaining  balance  of  such  fund  shall be available to such authority and may be  used by such authority for any corporate purpose.  The accounts  of  the  authority shall be subject to examination by the state comptroller.    4.   The   comptroller   of  the  state  and  his  legally  authorized  representatives are hereby authorized and empowered from time to time to  examine the accounts and books of the authority, including its receipts,  disbursements, contracts, leases, sinking  funds,  investments  and  any  other matter relating to its financial standing and fiscal affairs.